A recent survey by Reserve Bank of India which was conducted in 13 major cities on households’ perceptions, expectations on the general economic situation, the employment scenario, the overall price situation and their own income and spending tend to be less pessimistic.
5,347 responses were obtained from the 13 major cities which are: Ahmedabad, Bengaluru, Bhopal, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Patna and Thiruvananthapuram.
The survey shows that consumers expect their incomes to rise, price situation to improve and more jobs in future. The optimism was reflected in the December 2018 round of the RBI’s Consumer Confidence Survey.
The future expectations index recorded a sharp uptick, with increased optimism about the general economic situation and employment scenario. Pessimistic thinking is decreasing and consumers are becoming more optimistic which is a good trend of a positive sign.